FINancial Accounting Software

The FINancial Accounting Software system is your complete financial management system with a customizable modular setup. In addition to the standardized applications listed below there are several custom applications available, allowing the system to specifically cater to any industry. The list of available customized applications includes:

• Investment Portfolio Management
• Sales Quotations
• Sales Orders
• Billing
• Inventory Management
• Fixed Asset Management
• Purchase Orders (including encumbrance accounting)
• Mass Mailing
• Preventative Maintenance Program

Ease of Use - The FINancial Accounting Software is designed with ease of use in mind. In any application you can setup customers, vendors, employees, bank accounts, credit card accounts, petty cash accounts, loan accounts, general ledger accounts, departments, etc. at the time you are entering in the transaction that would initially require it. So while other software packages require you to exit the application to setup the appropriate account, this system allows you to setup any applicable accounts on-the-fly. Furthermore, the menu-driven system makes for an easy to navigate system, so you do not waste time searching for commands.

Real Time Updating - The FINancial Accounting System was developed as an online, real time system. All files are updated while you enter transactions. There is no need to run a posting program before your account balances are updated. They are kept up-to-date automatically. An option of printing Financial Statements after you enter the last transaction of the day is easily available.

Control - The system itself is full of control measures, ensuring you are protected from entering invalid or incorrect data into the system. You are able to setup specific dates that transactions must fall into. You can setup required fields that must be entered in order for a transaction to submitted. The system prevents duplicate records from being entered. i.e., duplicate customer invoices, vendor invoices, bank checks, customer payments, and general ledger journal entries. Additionally, you are able to setup sequential numbering for check numbers and invoice numbers, which will then cause the system to automatically assign numbers to corresponding transactions. Finally, the FINancial Information System has the most complete audit trail to allow the user or an auditor to be able to easily trace any financial transaction back to its source document.

Security - In addition to the multiple levels of control, the FINancial Accounting System is full of security features as well. Each user is given a user number and password needed to access the system. If a user fails to successfully enter their password or user name, after three unsuccessful attempts they are locked out of the system for 15 minutes. This time delay technique discourages unauthorized personnel from trying to gain access to your system. Also, all unsuccessful login attempts are captured by the system to allow you to review logins for unusual entries. The system also allows you to setup each user with access to specific applications. Meaning employees can only see the information they need to successfully complete their tasks. The system then logs the activity of each user, which can be printed or displayed at anytime. Also, certain sensitive functions are restricted to the owner of the system, and the owner must enter a valid owner password to gain access to these critical functions.

Accounts Payable

The Accounts Payable application is loaded with features to make your payables processing and tracking more simplistic and organized. This application uses a very specific and unique method of invoice identification for tracking vendor invoices. This method gives the system the ability to trace vendor activity by invoice, allowing you to generate payables reports for any date span at any time. This will then allow you to analyze your vendor payment history and establish better credits with your biggest vendors. The system will allow you to write-off old invoices at any time and automatically reverse the original distribution. If you desire you are able to charge the write-off to any account in your General Ledger. The system can be customized to give you the ability to produce purchase orders, track encumbrances, and integrate with your inventory. Some of the additional features of the system can be seen below:

• Maintain virtually an unlimited number of vendor accounts
• Enter vendor invoices and payments
• Enter invoices for one time or infrequent vendors without having to set up a separate account for the individual or company.
• You can display and review invoices in the system by vendor, invoice number, invoice date, due date, invoice amount, all invoices in reverse entry order, all unpaid invoices in entry order, or all past due invoices in entry order.
• The following reports can be displayed, exported or printed:
  • Vendor accounts by account code or name/description
  • Vendor account balances (Period and Current)
  • One or all vendor account activity between any two dates specified
  • Outstanding accounts payable reports for one or all vendors including:
    • Summary by account
    • Aging by account
    • Detail by account
    • Cash Requirements Report (Amounts due in 7 day increments)
  • Vendor remittance advices (invoices paid for any check)

Accounts Receivable

The accounts receivable application will give you everything you need to ensure all of your customers pay their outstanding receivables. You are able to enter invoices for one time customers without setting up a separate customer account. The receivables application uses a very specific invoice identification method. This is done to give you the ability to trace customer activity by invoice and generate reports of accounts receivable as of any date at any time. This is done to allow you to analyze customer payment history. You are then able to use this information to establish better credit for your best paying customers. The ability to either write-off or carry-forward differences between the invoices paid and the payment amount at the time the payment is applied to the invoices paid, to simplify this accounting method. This method also provides the best audit trail and accountability of accounts receivable. Further features of the system can be seen below:

• The following customizable and optional functions can be added to the system: Sales Quotations, Sales Orders, Billing, inventory integration, etc.
  • Maintain a virtually unlimited number of customer accounts
  • Enter customer invoices and receipts for tracking
  • The system can sequentially number all invoices automatically, and in the manner you specify.
  • After entering an invoice, a payment can be entered and applied, allowing you to perform cash sales.
  • You can write-off old invoices at any time and automatically reverse the original distribution (Sales, Sales Tax, etc.). Alternatively you are also able to optionally charge the write-off to any account in your general ledger.
  • Information can be reviewed by customer, invoice number, invoice date, due date, invoice amount, all invoices in reverse entry order, all unpaid invoices in entry order, or all past due invoices in entry order.
  • Reports available in the system include:
    • Customer accounts by account code or name/description
    • Customer account balances (Period and Current)
    • One or all customer account activity between any two dates specified
    • Outstanding accounts receivable reports for one or all customers including:
      • Summary by account
      • Aging by account
      • Detail by account
      • Detail by account with aging
      • Statements of unpaid invoices
    • Customer remittance advices (invoices paid for any check)
    • Invoices past due

Bank Accounts

The Bank Account application will allow you to maintain a virtually unlimited number of bank accounts (i.e. savings, checking, certificates of deposit, money markets, etc.). If have infrequent purchases you can enter and print checks without having to set up an account for the vendor. Creating checks to vendors is done by easily selecting the invoices you wish to pay. The system allows you to take a discount before it determines the amount of the check and it prints the invoices paid on the check stub. If the number of invoices paid exceeds 16, the system prints a summary on the check stub and allows you to print a remittance advice report showing the invoices paid after all checks have been entered and printed. You are able to calculate and reconcile bank balances for any date. This data can then be used to create the following reports: bank reconciliation report, bank deposits and/or checks which cleared the bank, deposits in transit, and outstanding checks; each of which can be exported in a text file or printed to a hard-copy. Some additional features of the Bank Account application can be seen below:

• You are given the flexibility to enter receipts either individually as deposits to the bank, or in an undeposited receipts account. Later, these undeposited receipts can be grouped together as a single bank deposit to ease the bank reconciliation process. The detail of these bank deposits can be displayed or printed at any time.
• Receipts from accounts receivable customers can be applied to individual invoices at the time the receipt is entered or at a later time. The system automatically keeps track of unapplied receipts to ease this application process.
• Checks are sequentially numbered by the system at your prerogative with the ability to change the sequence at any time while entering checks. This feature allows you to enter manual checks for the same bank account at any time, (i.e., you can have manual checks and computer checks for the same bank account.)
• Checks can be printed using standard business computer checks available at any bank or check printing service. Different information is printed on the check stub depending on what type of check is being printed (vendor, pay checks, etc.).
• If a check needs to be re-issued because it was lost or stolen, you can simply re-number the original check instead of voiding and re-entering it.

General Ledger

The General Ledger application gives you the ability to track an unlimited number of general ledger accounts. The system is a date driven financial reporting system that allows The General Ledger application gives yout eh ability to track an unlimited number of general ledger accounts. The system is a date driven financial reporting system that allow syou to specify the dates of any reporting period. Since the only time you actually close the books is at the end of a fiscal year, you have complete flexibility for financial reporting purposes. You can prevent individuals from entering transactions in prior reporting periods to preserve your financial integrity without actually closing those periods.

The General Ledger application allows you to setup an account type (asset, liability, equity, revenue, expense), a department and an account code. The account is then assigned with a reporting classification to group them for reporting. Hence, you are able to keep a detailed accounting summary for your business with the ability to produce summarized financial reports. Each individual account can then have an annual budget associated with it to keep track of all spending.

Every other application automatically integrates with the general ledger, and updates general ledger info as transactions are posted. This means that the only thing you need to enter in the general ledger application is standard general journal entries for depreciation, amortization, prepaid expenses, accruals, etc. To further save time, the general ledger can be setupt o sequentially number all journal entries subsequently.

The system allows you to display, print or export:

• The Chart of Accounts (Optionally by Department)
• Trial Balance (Optionally by Department)
• One or all general ledger account activity between any two dates specified with or without period beginning/ending account balances in detail or summarized by source
• Budget Reports by Account/Classification
• Balance Sheet and Income Statementyou to specify the dates of any reporting period. Since the only time you actually close the books is at the end of a fiscal year, you have complete flexibility for financial reporting purposes. You can prevent individuals from entering transactions in prior reporting periods to preserve your financial integrity without actually closing those periods.

The General Ledger application allows you to set up an account type (asset, liability, equity, revenue, expense), a department and an account code. The account is then assigned with a reporting classification to group them for reporting. Hence, you are able to keep a detailed accounting summary for your business with the ability to produce sumarized financial reports. Each individual account can then have an annual budget associated with it to keep track of all spending.

Every other application automatically integrates with the general ledger, and updates general ledger info as transactions are posted. This means that the only thing you need to enter in the general ledger application is standard general journal entries for depreciation, amortization, prepaid expenses, accruals, etc. To further save time, the general ledger can be set up to sequentially number all journal entries subquentially.

The system allows you to display, print or export:

• The Chart of Accounts (Optionally by Department)
• Trial Balance (Optionally by Department)
• One or all general ledger account activity between any two dates specified with or without period beginning/ending account balances in detail or summarized by source
• Budget Reports by Account/Classification
• Balance Sheet and Income Statement

Loan/Credit Card Account

The Loan/Credit Card Account application allow you to maintain an unlimited number of loan accounts, be they credit cards, notes payable, mortgages, lines of credit or any of the like. Loan proceeds can be entered and tracked with periodic interest rates/payments, credit card charges and various payments on account. This application gives you everything you need to calculate and reconcile loan balances for any date. You can then print, export, or display the following reports:

• Loan reconciliation report
• Loan activity which cleared the loan account statement
• Payments in transit
• Outstanding charges
• Loan accounts by account code or name/description
• Loan account balances (Period and Current)
• One or all loan account activity between any two dates specified
• Prior loan reconciliations

Payroll

The payroll application will allow you to pay an unlimited number of employees and process their annual income tax returns. The system gives you the ability to setup taxing options for your employees, allowing you to handle virtually any unique taxing requirements including, but not limited to, flat rates, additional amounts and tax exemptions. With this application you are given the options to setup multiple deduction options that will be eliminated when the deductions limit is reached. The system also allows you to utilize a pay scale table to pay employees based on grade/step and based on the grade/scale of the work they performed. The system allows you to produce the following reports:

• Quarterly earnings reports
• Semi-annual earnings reports
• Payroll distributions
• Employee accounts by account code or name/description
• Employee account balances (Period and Current)
• One or all employee account activity between any two dates specified showing gross to net by pay code and general ledger account distribution.
• Payroll check register with General Ledger Distribution for one or all employees, in detail or summary, for any dates you specify.
• Employee gross to net payroll by month, quarter, semi-annual and annual to allow you to review all payroll information for any employee.
• Quarterly, Semi-Annual and Year to Date payroll earnings

Petty Cash

The Petty Cash application is loaded with features to help you manage you cash funds:

• No limit on the number of petty cash funds
• Track your petty cash receipts and disbursements
• Set the system to sequentially number all receipts and vouchers automatically
• Calculate and reconcile petty cash balances as of any date
• Display, print or output to a text file:
  • Petty cash accounts by account code or name/description
  • Petty cash account balances (Period and Current)
  • One or all petty cash account activity between any two dates specified